Andersen Consulting and BBN Corp announced a joint venture to design and sell Internet-based business services such as transaction processing for airlines and other industries. The venture is 87.5% owned by Andersen, and 12.5% by BBN, and Andersen will contribute $35m in cash and services to the venture, while BBN will contribute $5m. Andersen describes the venture as an electronic utility that will provide software and systems for processing electronic orders to enable companies to set up businesses that will exploit the Internet.
